Sir Peter Rigby is no mug. The fact that to be persuaded to buy Coventry Airport he needs 'extras' such as access to adjoining land with property development potential seems to indicate that perhaps the airport is not actually a long term viable business as far as he is concerned.
If the Council does cave in and lets him have the adjoining land with the appropriate planning permissions, there is bound to be a clause in any contract which lets him close CVT after an agreed time if it is still losing money yet still leave him owning some valuable and strategic acreage.
If he's really smart he will surely insist on writing in a provision that as airport owner, he gets first crack at developing the land occupied by the airport itself in the event of permanent closure.